Resolved: Issue with binary.com

cipri

Recruit
Messages
7
Hello
I am an EU citizen and opened up a Gaming account on binary.com. I decided that I do not want to participate in trading and have never opened any trade.
I requested a withdrawal request of my entire balance and instead of honoring the request binary sent me an email asking me why did I requested a withdrawal without opening any trades. I told them the same things that I said here, and day have passed and eve since I haven't received a reply to that mail and neither the withdrawal request has been honored.
I wonder how a that a platform that i supposed to be regulated by more than one official regulatory entity within the European Union has the possibility to perform such practices. Who should I contact with my issue?
I kindly invite a binary.com representative in this thread so we can openly discuss and solve this unfortunate problem.
Thank you!
 

4evermaat

2nd Lieutenant
Messages
2,327
@cipri
1. How much was the withdrawal amount? When did you make this request?​
2. What is your account # at this "brokerage"​
3. Did you actually check their regulatory status (not just what is stated on their website)? Do you know the limitations of the different regulatory bodies?​
4. Can you take a screenshot or video (bandicam, Thundersoft) showing the pending withdrawal request, account verification status, broker regulatory status? upload the evidence here.​
5. What compelled you to make deposit in the first place? Binary options brokers are pretty synonymous with bucket shop and gambling.​
6. In any case did you write a review of your experience yet? Please do so: https://www.forexpeacearmy.com/forex-reviews/5006/www.binary.com?per-page=25

In the mean time, complete the steps above and reply with some evidence attached.

7. in 96 hours from this thread start, you can formally invite the company to this thread. Follow these instructions: https://www.forexpeacearmy.com/comm...how-to-invite-a-company-to-your-thread.58438/
8. Do not abandon this thread. Check every 7-10 days to see if new questions need answering or if there is an important update from the company.​

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@binary-com can we have your attention here please?

Also, you have several issues on FPA that have not been addressed by official representative yet, such as:

 

cipri

Recruit
Messages
7
Hello, I will attach here the request

Capture1.PNG

I decided that I do not want to participate in these activities and wish to withdraw my funds from the platform. I don't understand why it's o difficult for the broker to honor my request!and
I will also attach a video proving that my account is verified as well as the regulatory entities that are linked to the platform.
 

4evermaat

2nd Lieutenant
Messages
2,327
Needless to say, but do not make any trades with this broker. And do not deposit an additional sum.

When did you make the deposit?

Isle of Man is basically zero regulation. Malta is in EU, but so is Cyprus. I've never dealt with Malta, but if it is similar to Cyprus quality regulation, then it is good to know that FPA is helping you.

Contact the Binary.com via email once more (and CC their compliance department) and let them know you are complaining that they have not processed their withdrawal that you sent (state the date you FIRST requested the withdrawal) and that they must process your withdrawal immediately.

If you use live chat, make sure to record it (or at least grab screen shot) of the full transcript.

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You can try reaching out to Malta's financial regulatory body and ask them what the complaint procedure is against a binary options broker.

And what kind of phone do you use? Consider installing this software to auto-record calls: https://labs.xda-developers.com/store/app/com.nll.acr
 

cipri

Recruit
Messages
7
I recieved an email stating that my withdrawal has been approved. The withdrawal is accepted on the platform as well. Currently waiting for several working days until I contact my bank and see if everything is alright.
 

4evermaat

2nd Lieutenant
Messages
2,327
Can you take a screen record/screenshot of this? (get into the habit of doing this, makes your life easier)
 

cipri

Recruit
Messages
7
unfortunately it will take more than 2 weeks until i return to my phisical authetificator for my reifeissen bank account, because I'm in vacation
until then, i won't do anything but hope that everything is alright
 

cipri

Recruit
Messages
7
They sent back my money with ease, on the same credit card that I have deposited with, without being forced to withdraw from all sorts of shady e-wallet operators.
The reason I was alarmed about all of this is mainly the attitude of their customer service representatives who were trying way to pushy and hard to get me back on the platform and start trading even after I clearly and concisely told them that I wish to withdraw form their platform
 
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